Of course Ethereum is very innovative, it is infact one of the most innovative projects out there, but BTC will continue to dominate unless Ethereum brings something so huge that it will lead mass adoption and will be seen a better store of value than BTC. Ethereum was never intended to be a store of value.
If we are going to take this current situation where there a re a lot of scam DeFi projects in the Ethereum network plus the fee is very high I don't think Ethereum will or can over power Ethereum they should first check scalability of their network and stop this fake DeFi's from launching
in their network, Ethereum has been int he number two spot for a long time and they are always a threat but I don't think it's capable.